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Can someone tell me about this Credit Ratings?

Me and my fiancee are trying to get an apartment, but alomost 2 years ago, he did a filed a small bankruptcy. On June of 2010 that would all clear up from he's credit history. He would be the main applicant, as we were reading the application it said "credit ratings between 6 and 9 would not be acceptable, and credit ratings between 1 and 5 are acceptable. What does that mean? He has a credit score of 650 at this time. We had applied for a house before and they told him he would have to wait 2 years before he can get a house, they told him they needed a two year wait period from the time he did his bankruptcy, then he would qualify.

Public Comments

1. Obviously, their "credit rating" scale is not the same as the FICO score. But if you are in the U.S., bankruptcies do not "clear up" from your credit history in two years - its more like 10 years.
2. This is obviously their own internal scoring system since it in no way compares to any established credit rating I have ever seen. And I don't know where you got the idea that a bankruptcy filed in 2007 will drop off in 2010 since bankruptcy's show for 10-years. Anyway, good luck. Additional information. The 2 year waiting period is required by F.H.A. and also requires that you reestablish your credit within those 2 years with a good payment history on something like a credit card or car payment.